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Stocks Decline as Investors Rethink Rate Cut Expectations
Global stocks fell Wednesday as optimism faded that the Federal Reserve and other central banks may start cutting interest rates soon to boost economic growth. Markets Pull Back from Recent…
Global stocks fell Wednesday as optimism faded that the Federal Reserve and other central banks may start cutting interest rates soon to boost economic growth. Markets Pull Back from Recent…
JPMorgan Chase & Co. announced plans to continue growing its workforce in 2023, even as many of its Wall Street peers enact job cuts amid economic uncertainty. The company sees…
Introduction A new study released today by Redfin, a national real estate brokerage, reveals that Baby Boomers (those born between 1946 and 1964) own a disproportionate share of large, single-family…
ECB Chief Opens Door to Earlier Rate Reductions In an interview at the World Economic Forum Annual Meeting in Davos on Wednesday, European Central Bank President Christine Lagarde pointed to…
The Biden administration on Tuesday announced a major crackdown on high overdraft fees charged by the nation's largest banks, unveiling new rules that could save Americans billions of dollars a…
Overview US retail sales rose more than expected in December 2023, likely boosted by strong holiday shopping and resilient consumer demand despite high inflation and interest rates. The strong finish…
Markets Drop on Growth and Inflation Concerns Major stock indexes fell Tuesday as investors pulled back on expectations for substantial Federal Reserve interest rate cuts in early 2024. The Dow…
The U.S. Food and Drug Administration (FDA) has approved CASGEVYTM (exagamglogene autotemcel), the first CRISPR gene editing therapy to treat patients with transfusion-dependent beta thalassemia (TDT). CASGEVY was developed jointly…
AG Ferguson Files Lawsuit Alleging The Deal Would Illegally Raise Prices And Limit Choices For Shoppers Washington State Attorney General Bob Ferguson filed an antitrust lawsuit on Monday seeking to…
Several European Central Bank (ECB) officials have come out in recent days casting doubt on market expectations for interest rate cuts in 2024. Comments from chief economist Philip Lane, policymakers…
In a stunning blow to JetBlue's growth ambitions, a federal judge has blocked the airline's $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines on antitrust grounds. The deal, announced in…
An arctic blast has crippled electric vehicles across the Chicago area, with hundreds of Tesla owners stranded and unable to charge due to cold weather performance issues. Tesla charging stations…
Restaurant Brands International (RBI), the parent company of Burger King, has agreed to acquire Carrols Restaurant Group, its largest Burger King franchisee in the United States, in an all-cash deal…
Costco, the second largest retailer in the world behind Walmart, has started pilot testing membership card scanners at the entrance of some stores in the United States. This move aims…
A federal judge on Tuesday blocked JetBlue's proposed $3.8 billion acquisition of low-cost carrier Spirit Airlines, siding with the Justice Department which argued the deal would lead to higher fares.…
Elon Musk stunned investors on Monday by demanding majority control of Tesla before he continues developing advanced AI and robotics technology at the electric vehicle maker. The surprise ultimatum sparked…
Kroger and Albertsons, two of the largest grocery retailers in the United States, announced this week that they are delaying the expected closure of their proposed $25 billion merger deal.…
Benefits increased in 2023, but taxes weren't adjusted Social Security recipients across the country are facing unexpected tax bills this year due to increased benefits in 2023 that many didn't…
Quaker Oats has significantly expanded its recall of numerous granola bars, cereals, and other snack products due to potential salmonella contamination. The new recall adds dozens more items, including beloved…
Electric vehicle (EV) owners in the Midwest, including Chicago, have faced major issues keeping their cars charged amid an extreme cold snap this week, with many left stranded as lithium-ion…
The Walt Disney Company has formally rejected activist investor Nelson Peltz's nominations for board seats, setting the stage for a showdown at the upcoming annual shareholder meeting. Disney nominated 12…
China's economy grew 5.2% in 2023, meeting the government's target despite repeated COVID-19 outbreaks and a real estate crisis that hampered growth in the second-largest economy. The country's gross domestic…
Deal marks end of era as Shell exits operational involvement after 70 years Oil giant Royal Dutch Shell has struck a landmark $2.4 billion deal to sell its stake in…
Restaurant Brands International (RBI), the parent company of Burger King, announced Tuesday that it will fully acquire Carrols Restaurant Group for $9.55 per share in an all-cash transaction valued at…
Overview Morgan Stanley reported a drop in fourth quarter profits on Tuesday, January 16th, impacted by $535 million in one-time regulatory charges. However, revenues still managed to beat expectations, lifted…
Goldman Sachs reported its fourth quarter and full year 2023 earnings results on January 16th, beating analyst expectations and showing signs of strength despite a difficult year for the bank.…
A large number of senior citizens across the country are likely to owe taxes on their 2023 Social Security benefits when they file their tax returns this year. This comes…
Uber announced this week that it is shutting down Drizly, the alcohol delivery service it acquired for $1.1 billion in 2021, by March 31st. The closure comes amidst increasing market…
Federal Reserve Governor Christopher Waller said in a speech on Tuesday that the central bank could cut interest rates this year if inflation continues to ease, but he cautioned against…
A federal judge on Tuesday blocked JetBlue's proposed $3.8 billion acquisition of Spirit Airlines, citing antitrust concerns over reduced competition and higher fares. Judge Finds Deal Would Lessen Competition and…
Introduction Major supermarkets and stores across the United States and Australia have been rapidly adopting self-checkout lanes over the past decade, allowing customers to scan and pay for their own…
Provincial grid strained by extreme cold weather; officials thank public for conservation efforts Frigid temperatures gripping much of Canada have placed immense strain on electrical grids this week, with Alberta's…
Nashville International Airport descended into travel chaos this week as a major winter storm brought ice, snow and frigid temperatures to Middle Tennessee. Hundreds of flights were delayed or cancelled,…
OpenAI, the company behind the popular ChatGPT chatbot, has announced several new policies and initiatives aimed at combating the spread of misinformation by AI systems in the lead up to…
A severe Arctic cold blast has hit the central United States, causing natural gas prices to skyrocket as demand soars and supply infrastructure struggles to operate in the extreme temperatures.…
Quaker Oats issued an expanded recall this week over concerns of potential salmonella contamination across dozens of products. The voluntary recall now includes Cap'n Crunch's Peanut Butter Crunch cereal, Life…
Jimmy "MrBeast" Donaldson, the most popular creator on YouTube, posted his first video on Elon Musk's burgeoning social media platform X on Monday. The highly-anticipated video racked up over 30…
The 2024 Consumer Electronics Show (CES) kicked off this week in Las Vegas, showcasing the latest innovations in technology. This year's show has placed a major emphasis on artificial intelligence…
Goldman Sachs is set to report its fourth quarter 2023 earnings results before the market opens on Tuesday, January 17. Analysts expect the investment bank's profits to fall from the…
Cyber incidents keep gaining ground as companies struggle with security Cyber incidents have consolidated their ranking as the top business risk globally in 2024, according to the latest Allianz Risk…
A sweeping new federal regulation requiring small businesses, nonprofits and other entities to disclose their ownership information to the government took effect January 1, mandating unprecedented financial transparency in the…
China's economy is at a critical juncture as President Xi Jinping bets the country's future on revitalizing manufacturing, even if it means antagonizing trade partners and spooking foreign investors. Manufacturing…
World Economic Forum convenes in Davos to address trust deficit The World Economic Forum's annual meeting kicked off this week in Davos, Switzerland, bringing together political, business, and civic leaders…
Apple has decided to remove the blood oxygen measurement feature from its latest Apple Watch models to avoid a US import ban won by medical device maker Masimo. Background of…
Germany's two largest banks - Commerzbank and Deutsche Bank - are once again exploring a potential merger, according to several reports this week. The impetus for reviving deal talks comes…
Washington state Attorney General Bob Ferguson filed an antitrust lawsuit on January 12th seeking to block the proposed $25 billion merger between supermarket giants Kroger and Albertsons, arguing the deal…
The Securities and Exchange Commission's historic approval of spot bitcoin exchange-traded funds (ETFs) last week has seen billions pour into the new investment vehicles. As predicted, significant capital from existing…
Apple has decided to remove the blood oxygen measurement app from its latest Apple Watch models - the Series 9 and Ultra 2 - in order to avoid a US…
Police in Lenexa, Kansas have charged a 24-year-old man with first-degree murder following a fatal shooting outside a local McDonald's restaurant. Shooting Follows Suspected Drug Deal According to police statements…
A harrowing incident occurred on Alaska Airlines Flight 1282 last week when a panel blew out in mid-flight, leaving a gaping hole in the Boeing 737-9 aircraft and panicking passengers.…
Chief executives around the world are increasingly worried about the prospects of a recession and high inflation, according to a new survey conducted ahead of the World Economic Forum annual…
Japanese stocks have been on an incredible rally over the past couple weeks, with the Nikkei 225 surging to levels not seen since the peak of the country's asset bubble…
Bitcoin saw a dramatic sell-off over the past 24 hours, plunging more than 6% from its local high of $45,500. The steep decline comes on the heels of the SEC's…
Americans across the country are commemorating Martin Luther King Jr. Day today, honoring the civil rights icon's fight for racial justice and equality. This federal holiday celebrates Dr. King's birthday…
Over 3700 Flight Delays And Cancellations As Brutal Cold Grips Region A powerful winter storm brought heavy snow, bitter cold temperatures and high winds across Colorado over the weekend and…
The Consumer Electronics Show (CES) 2024 kicked off this week in Las Vegas, giving tech enthusiasts a glimpse into the latest innovations and products soon hitting the market. This year's…
NASA recently unveiled its highly anticipated X-59 "Quiet Supersonic Technology" (QueSST) experimental aircraft in collaboration with aerospace leader Lockheed Martin. This sleek jet aims to reduce sonic booms to gentle…
Apple has come up with a way to avoid a recently imposed import ban on certain models of the Apple Watch - by removing the blood oxygen measurement feature from…
David D. Smith, chairman of the conservative broadcasting company Sinclair Broadcast Group, has purchased The Baltimore Sun Media group from Tribune Publishing in a surprise $65 million deal announced Monday.…
Seattle’s new law aimed at providing minimum pay protections to delivery app drivers took effect this past weekend, prompting companies like DoorDash, Uber Eats, and Instacart to raise their fees…
Boeing is facing renewed scrutiny over the safety and manufacturing practices of its beleaguered 737 MAX aircraft after a mid-flight incident on January 4th involving an Alaska Airlines plane. The…
An Alaska Airlines Boeing 737-900 plane carrying 157 passengers and 6 crew members crashed shortly after taking off from Seattle-Tacoma International Airport on January 12th, 2024. The plane was bound…
The 2024 Consumer Electronics Show (CES) wrapped up on January 12th after showcasing a wide range of innovative new technologies, especially in the areas of artificial intelligence (AI) and automotive.…
Shares of Chinese tech giant Baidu plunged over 12% on Monday, January 15th, 2024, following media reports that the company's AI chatbot ERNIE is being used by the Chinese military.…
European and Asian stocks retreated on Tuesday as investors awaited key US inflation data later this week that could influence the Federal Reserve's interest rate policy. Meanwhile, commodity-linked stocks fell…
Germany's economy contracted by 0.3% in 2023, slipping into a recession as multiple crises battered Europe's largest economy. The preliminary data from the Federal Statistics Office showed that Germany struggled…
Self-checkout technology, once heralded as the future of supermarket shopping, is facing growing backlash from retailers and shoppers alike. Major grocery chains in the US and UK are starting to…
The European Central Bank (ECB) has sent mixed signals in recent days on the prospect of interest rate cuts in 2024. While some policymakers see cuts as likely, others urge…
Artificial intelligence is poised to transform economies around the world, but its impact will be deeply uneven, the head of the IMF said this week. AI is set to replace…
The U.S. Department of Labor (DOL) has finalized a controversial new rule that seeks to extend employee benefits and protections to millions more American gig workers by more strictly defining…
Several prominent tech companies like Nvidia, Tesla, and Amazon are primed for stock splits in 2024 after huge share price gains over the past couple years. Stock splits don't change…
Wells Fargo & Co. reported a drop in fourth quarter profits on Friday due to one-time charges, but the bank remains upbeat about economic conditions and consumers. Wells Fargo's results…
The launch of the first Bitcoin exchange-traded funds (ETFs) in the US last week was met with much fanfare, sending Bitcoin prices soaring to new highs. However, the excitement was…
The long-awaited moment has arrived - Bitcoin exchange-traded funds (ETFs) allowing mainstream investors to gain exposure to crypto assets have been approved by the SEC. This watershed event opens up…
Quaker Oats has expanded its recall of granola bars, cereals, and snacks to include nearly 50 products that may be contaminated with salmonella. The expanded recall comes just weeks after…
The Federal Aviation Administration (FAA) has launched a wide-ranging review of Boeing's manufacturing quality control processes and oversight procedures following an alarming mid-flight incident last week. A panel covering one…
China's central bank surprised markets on Monday by keeping its medium-term lending rate unchanged, even as the economy slows. However, the People's Bank of China (PBOC) did inject liquidity into…
Inflation eased in December but remained significantly above the Federal Reserve's 2% target, according to the latest consumer price index (CPI) data released on Thursday. The report shows some progress…
The 2024 Consumer Electronics Show (CES) kicked off this week in Las Vegas, with tech companies large and small showcasing their latest innovations across consumer electronics, vehicles, health devices, smart…
Kelly-Moore Paints, a longstanding manufacturer and retailer of paints and coatings across the western United States, has abruptly announced it will be winding down all of its operations and closing…
NASA recently unveiled its highly anticipated X-59 Quiet SuperSonic Technology (QueSST) aircraft, developed in collaboration with Lockheed Martin's Skunk Works. This revolutionary plane aims to reduce the disruptive sonic booms…
An All Nippon Airways (ANA) Boeing 737-800 carrying 136 passengers and crew was forced to return to Sapporo's New Chitose Airport on January 13th after a crack was discovered in…
PSE and Other Utilities Request All Customers Reduce Usage to Prevent Widespread Gas and Electricity Shutoffs A series of critical issues with natural gas infrastructure and electricity generation across the…
The long wait is over - Bitcoin exchange-traded funds (ETFs) backed by actual Bitcoin have finally been approved by the SEC. After years of rejections and delays, regulated crypto investment…
DirecTV and Tegna announced Friday they have reached a new multi-year distribution agreement, ending a blackout that had left millions of subscribers without access to critical local news and sports…
Microsoft's stock price surged on Friday January 12th 2024, briefly pushing the software giant's market valuation above Apple's and making Microsoft the world's most valuable publicly traded company. However, Apple…
A brutal arctic cold front is sweeping across much of the country, bringing life-threatening subzero temperatures and wind chills. As homes and buildings struggle to stay warm, a grave threat…
JPMorgan Chase, the largest U.S. bank by assets, reported fourth-quarter results on Friday that beat profit estimates but fell short on revenue forecasts. Earnings Down on Charges While Net Revenue…
Quaker Oats has expanded its recall of granola bars, cereals, and snacks to nearly 50 products due to potential Salmonella contamination. The expanded recall comes just weeks after an initial…
NASA recently unveiled its highly anticipated X-59 Quiet SuperSonic Technology (QueSST) experimental aircraft, which aims to reduce sonic booms to make supersonic flight over land feasible and enable a new…
Alaska Airlines has canceled dozens more flights on Boeing 737 MAX 9 aircraft after additional issues surfaced this week. Up to 12,000 passengers had their travel plans disrupted, leading to…
The U.S. Supreme Court announced Friday that it will hear Starbucks' appeal of a federal court order reinstating seven employees in Memphis who were fired after leading a unionization effort.…
Citigroup announced major restructuring plans on Friday including cutting its global workforce by 10% or 20,000 jobs after reporting disappointing fourth quarter results. The job cuts will be implemented over…
Fruit Stripe gum, the zebra-striped chewing gum known for its intense fruit flavors that quickly faded, is being discontinued after over 50 years of production. Ferrara Candy Company announced Thursday…
Key Details on Latest CPI Report Send Yields and Stocks on Rollercoaster The latest US consumer price index (CPI) report for December came in hotter than expected this morning, sending…
Billionaire Announces Plans to Produce "World's Best Beef" Facebook founder Mark Zuckerberg has announced an unusual new project: raising Wagyu cattle on his sprawling estate in Hawaii to produce what…
A group of passengers who were aboard the Alaska Airlines Flight 1282 that made an emergency landing in Portland on January 6th after a plane door blew out mid-flight have…
China's consumer price index (CPI) fell 0.3% in December 2023 from a year earlier, marking the third straight month of declines as weak domestic demand and disruptions from COVID-19 outbreaks…
Key Highlights China's exports fell 9.9% in December 2023 compared to a year earlier, the first decline since January 2016. This was largely driven by weakening global demand. Imports also…
U.S. inflation rose more than expected in December, pushing the annual inflation rate to 3.4% and complicating the Federal Reserve's plans to cut interest rates. The consumer price index (CPI)…